NEW YORK (TheStreet) -- TheStreet's Jim Cramer talked about some of the biggest stocks making headlines Thursday.
Cramer said he has been tapping some market technicians on the shoulder, trying to get a feel for where shares of Apple (AAPL) are headed next. Apple is a holding in his charitable trust, Action Alerts PLUS.
He said the stock has rather significant resistance near $580 and thinks that's why the stock is beginning to stall near current levels. A deal with China Mobile Limited (CHL) might not be able to push Apple shares through that level because it's not a surprise event.
In other words, it's more of a when, not if scenario, with investors just waiting for confirmation.
Turning to retail, he said investors should stay away from shares of J.C. Penney (JCP). The stock is down roughly 9% in Thursday's session, making it too hard to buy or sell short.Instead, Cramer says there's plenty of other places investors can turn in retail. His favorite pick is Macy's (M), another Action Alerts PLUS holding. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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